It wouldn’t be a stretch (wink, wink) to say that Stretch Armstrong has been stuck in development hell for years. It’s actually kind of hard to believe now that the film was once one of the hotter projects in Hollywood.

Back when Universal first announced the film (to many groans from the public), it had a tentative release date for April 2011. Things seemed to be rolling along well for the project when Twilight star Taylor Lautner was attached to star, but, like its namesake, the film has turned into a bit of a gooey mess.

In the last six months, Lautner dropped out of the project and Universal dumped the movie completely. But as they say, one man’s trash is another man’s treasure, which is why Relativity Media picked up the film with plans to start fresh. And according to a new report, they might be starting fresh with director Breck Eisner.

Courtesy of The Hollywood Reporter, Eisner (who directed the horror remake of The Crazies) is in talks with Relativity to helm the film. If Eisner does join the project, he’ll be working with a script from Dean Georgaris, whose record includes action films and thrillers including Lara Croft Tomb Raider: The Cradle of Life and the remake of The Manchurian Candidate.

Does that mean that Relativity’s version of Stretch Armstrong will be more of an action movie and less of a comedy? Maybe. Eisner is a strong director, and I have no doubt that Georgaris is a skilled writer. You won’t find much success in Hollywood if you’re not talented (despite the way it sometimes seems from the outside looking in). The real question is whether anybody is itching to see a Stretch Armstrong movie at all.

UPDATE: Relatively has announced that Eisner will indeed helm the Stretch Armstrong movie, and put out the following press release:

Relativity Media has closed a deal with Breck Eisner (The Crazies, Sahara) to direct its upcoming live-action film based on Stretch Armstrong, it was announced today by Relativity’s President, Tucker Tooley. Relativity partnered with global branded play company Hasbro, Inc. [NASDAQ-HAS] to develop and produce the film which is targeted for an April 11, 2014 release date. Relativity will be the domestic distributor and will release the film internationally through its network of foreign output partners.

Eisner, known for directing the remake of George A. Romero’s horror movie The Crazies, will helm the film based on the script written by Dean Georgaris (Lara Croft Tomb Raider: The Cradle of Life, The Manchurian Candidate). The film will be produced by Relativity’s CEO, Ryan Kavanaugh (The Fighter), Hasbro’s CEO Brian Goldner (Transformers) and Bennett Schneir, Senior Vice President and Managing Director, Motion Pictures (Battleship). Tooley (Immortals) will serve as executive producer.

“This is a fantastic opportunity to create a world that is both fresh and exhilarating,” said Eisner. “What really excites me is the chance to build a hero from the ground up.”

After the dismal performance of Battleship, maybe Hollywood should rethink its obsession with exploiting existing properties and focus instead on telling really good original stories.

What do you think? Is there anything that would get you interested in seeing Stretch Armstrong? Let us know in the comments.